News Summary

Houston’s Solaris Oilfield Infrastructure is rebranding as Solaris Energy Infrastructure and has announced a $200 million acquisition of Mobile Energy Rentals LLC. This transformation includes a new ticker symbol ‘SEI’ on the NYSE, with financial backing through a $325 million term loan and a new $75 million revolving credit facility. The company is set to enhance its service offerings across various markets, positioning itself for future growth while focusing on sustainability and innovation.

Exciting Changes in Houston: Solaris Oilfield Infrastructure Rebrands as Solaris Energy Infrastructure

Houstonians, get ready for some thrilling news. The company that has been a cornerstone of our energy industry, Solaris Oilfield Infrastructure, is undergoing a significant transformation. As of September 2024, they are officially rebranding to Solaris Energy Infrastructure, Inc.. This shift isn’t just about a new name; it accompanies a major acquisition that is set to change the company’s trajectory.

Acquisition Alert: $200 Million Deal

So, what’s the buzz? Solaris Energy Infrastructure has announced its acquisition of Mobile Energy Rentals LLC (MER) for a whopping $200 million. This acquisition marks a substantial step forward, enhancing the company’s capabilities significantly. It’s an exciting time for Solaris as they enrich their offerings and skill sets, focusing more on delivering top-notch services to clients in a variety of markets.

New Name, New Ticker

As part of this rebranding venture, Solaris Energy will maintain its primary listing on the New York Stock Exchange (NYSE). That’s right! You’ll still be able to follow them on the stock market, but now they’ll trade under the ticker symbol “SEI” instead of “SOI”, effective from September 12, 2024. It’s a fresh start and an exciting way to reconnect with investors and the community.

Financial Moves That Matter

$75 million revolving credit facility. This is particularly interesting as they expect this facility to be undrawn upon completion, demonstrating a strong financial strategy.

The new financial agreements will seamlessly replace a previously established $300 million secured bridge term loan facility. This move reinforces Solaris Energy’s commitment to financial stability and growth while optimizing their resources.

What’s in Store for the Future?

With the integration of Mobile Energy Rentals, Solaris is not just acquiring new assets; they’re bringing an experienced team into the fold. This team is expected to elevate Solaris Energy’s growth across multiple sands, including the oilfield and various commercial and industrial sectors such as data centers. These are valuable additions to a company already headquartered in the bustling energy hub of Houston, Texas.

Servicing Diverse Markets

Solaris Energy Infrastructure isn’t just about oil. The company provides mobile and scalable equipment-based solutions for distributed power generation, making them versatile players in the field. They also manage raw materials for oil and natural gas well completion, which is critical, especially in a market that demands efficiency and innovation.

With a strong focus on meeting the needs of various U.S. end markets—including both energy and commercial sectors—Solaris Energy Infrastructure is on a mission to position itself for future growth. They’re ensuring they can meet the diverse demands of their clients while championing sustainability and innovation.

How to Stay Updated

For those eager to keep up with these developments and learn more about what Solaris Energy Infrastructure is doing, visiting their website at solaris-energy.com is a great way to stay informed. With so much happening, there’s no shortage of excitement surrounding this rebranding and acquisition.

This is indeed a thrilling time for Houston. Solaris Energy Infrastructure is poised to redefine its role in the energy marketplace and beyond. As they transition into this new chapter, community members and investors alike are hopeful about the future. Make sure to keep an eye out for more updates – great things are on the horizon!

Solaris Oilfield Infrastructure Rebrands to Solaris Energy Infrastructure